Chemicals, Metals & Mining Theme, Refined Products, Olefins, Solvents & Intermediates, Non-Ferrous, Aromatics, Naphtha

December 01, 2023

Platts launches new assessments for delivered naphtha to East Asia from commercial tanks of all origins, including Russia

Platts, part of S&P Global Commodity Insights, has launched new assessments effective Dec. 1, for naphtha cargoes delivered into East Asia from commercial tanks of all origins, including Russia, as part of its commitment to bring transparency to new markets.

The new all-origin outright price assessment, published in $/mt, represents the value of commercial tank cargoes of 25,000 mt meeting Platts CFR South Korea naphtha specifications delivered on a CFR basis to East Asian countries, 45-75 days forward from the day of publication.

In addition to the outright price assessments, Platts has launched a corresponding spot cash differential for naphtha CFR East Asia (Commercial Tanks) reflecting 25,000 mt cargoes for delivery to East Asia 30-60 days forward from the date of publication and expressed as a differential against the Mean Of Platts Japan naphtha assessment. The assessment will reflect trades on a CFR basis at good ports across East Asia, but normalized to CFR South Korea basis.

Platts C+F South Korea naphtha specifications are defined in the table below:

Property Unit Standard
Paraffins % vol Min 70
Specific gravity at 60 deg F g/ml 0.65-0.74
Reid Vapor Pressure psi Max 13
Sulfur wt.ppm Max 650
Initial boiling point deg C Min 25
Final boiling point deg C Max 204
Chlorine content wt.ppm Max 1
Mercury wt.ppb Max 1
Arsenic wt.ppb Max 20
Olefins % vol Max 1
N-paraffins % vol Min 30
Color Saybolt Min +20
Lead wt.ppb Max 150
Total oxygenates wt.ppm Max 50 (eg: TAME, MTBE and/or ETBE)
Carbon Disulfide wt. ppm Max 3

Data from Enterprise Singapore showed that exports of naphtha, reformate and other blendstocks from Singapore to South Korea, Taiwan and China have more than doubled to 2.3 million mt over January to September, compared with 937,219 mt in 2022.

Details of the new assessments are as follows:

Symbol Description Currency/UOM

CFRCT00 Naphtha CFR East Asia (Commercial Tanks) $/mt

CFRCD00 Naphtha CFR East Asia (Commercial Tanks) differential $/mt

CFRCT03 Naphtha CFR East Asia (Commercial Tanks) Monthly Average $/mt

CFRCD03 Naphtha CFR East Asia (Commercial Tanks) differential Monthly Average $/mt

Platts will publish the new assessments in the Asia-Pacific/Arab Gulf Market Scan and PGA and PRF pages 2302 and 2340.

Please send all comments or questions to asia_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.